EURAUD, Double top, AB=CD bearing, overall looks like a range
EURAUD, Double top, AB=CD bearing, overall looks like a range.
There is a visible ranging action.
One way is to enter with a stop around the 1 ATR measure. This give a space for the price to take the stops of the low prior to the current one in case this one fails. I'm not too fond of it wider than this as the risk to reward gets worse. Currently 1 to 4 i possible on the runner.
For sure the runner's target is the opposite end, but you might scale out or protect the stop after the price moves in our direction.
There is a visible ranging action.
One way is to enter with a stop around the 1 ATR measure. This give a space for the price to take the stops of the low prior to the current one in case this one fails. I'm not too fond of it wider than this as the risk to reward gets worse. Currently 1 to 4 i possible on the runner.
For sure the runner's target is the opposite end, but you might scale out or protect the stop after the price moves in our direction.